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Long Term Forex Trading: Strategy & Mindset

Updated: Sep 24, 2022

Its' TIME!! to talk about how to be a successful trader in the long term: in this article you will learn...

  • What Long Term Trading is.

  • The Correct mindset to have when Trading

  • What Characteristics you will need to be successful

  • What is Swing Trading?

  • What is Position Trading?

  • How Logikfx supports successful long term traders




What is Long-Term Forex Trading?


Long-term forex trading or investing consists of using a combination of fundamental analysis and risk management to be able to keep your active trades open for long periods of time.


This allows you to enter trades that stay open for weeks, months or even years. These are buy-and-hold trades, rather than quick, buy-and-sell-trades.

Your profits can be growing and accumulating for months on end, allowing you to capture trends impossible to foresee when day trading or scalping. The amount of money you make over a longer period of time is drastically different to the majority of losers who try to trade in a day and get out by the night.


Long term trading is THE key principle in the Logikfx method of trading, it is taught in the academy and we have technology that makes long-term trading even easier.

In terms of capital, long term investing seems like it would require a lot more than Short term trading, This is really not the case, if you employ proper risk management you can start off with relatively small levels of initial margin...


To figure out how much you need to start trading: click here


How much time do I need to Trade Forex?


The main benefit of long-term trading is the fact that your trading is spread over weeks and months. This means you can be profiting while you sleep, when you're at work or if you're taking the kids out. You don't need to be sitting in front of the screen 24/7!


Long-term trading frees time, less stressful with better returns

The amount of effort you need to put into managing positions is decreased significantly, with the logikfx fundamental leading indicators this can be increased even further.

A great example of this analysis is the trade ideas the we provide here at logikfx, to gain an insight into the type of analysis we conduct: click here


Some people choose to be more active and may spend a couple of hours per week doing research, especially if they have lots of capital to deploy and are looking for multiple trading opportunities (if their position size calculator allows it).


For the "set and forget" investor, they may only need to do a bit of research, or check on their investments, every few months, possibly when they are ready to make another purchase.



The Long-Term trading Mindset!

It is widely acknowledged that psychological factors play a big part in trading in general.

These three factors are the downfall of many newbie traders, they can all come into play and the more time spent in front of the trading screens, the more likely that emotional and psychological factors will affect decision making.


As taught in the Logikfx academy, the right mindset is key to becoming a successful investor, our team has even devised a test, follow the link below to see if you have what it takes to be a LITA Trader!


What are the key traits of successful investors?

Day traders can’t compete with Long-Term

Investors!


What is "Day Trading"?


This is the worst method of trading you could try, it involves making dozens of trades every day based purely on technical chart analysis.


The day trader's objective is to make a living from trading stocks, commodities, or currencies, by making small profits on numerous trades and capping losses on unprofitable trades.


Day traders typically do not keep any positions or own any securities overnight.

Why do Day Traders exist?


The biggest lure of day trading is the potential for spectacular profits.


This may only be possible for the rare individual who possesses all the necessary traits required to become a successful day trader, such as decisiveness, discipline, and diligence.